Counter to expectations, preliminary Class 8 same dealer used truck retail sales volumes continued to increase in May (+7.4 percent), according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

“Besides a soft freight environment, flat freight rates, and elevated borrowing costs, seasonality called for about a 6 percent decline,” according to Steve Tam, Vice President at ACT Research. “Auction volumes rebounded heartily from April’s post quarter-end hangover, adding 38 percent m/m in May. Wholesale activity floated higher, gaining 1.9 percent m/m.”

Tam concluded, “May retail sales are typically six percentage points below normal. Second quarter sales tend to be pretty average, with June as the epitome of average. Sales are also usually unremarkable in July.”